A renaissance of Nigerian creativity: why now is the time to invest

by MMC
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Within the melodious waves of Afrobeats, the artistry of our film producers and the majestic skills of our athletes lies an undeniable truth: Nigeria’s creative industry is a goldmine ripe for investment.

The dynamism of Nigeria’s creative industry is no secret. Yet we have the palpable feeling that we are only scratching the surface. As the world increasingly turns its attention to our shores, now is the time for Nigeria to shine brightly on the world stage.

The transformative leadership of President Bola Ahmed Tinubu is the cornerstone of this new optimism. Speaking at the 78th United Nations General Assembly, he rightly highlighted the challenges facing Africa, particularly Nigeria. These challenges involved both internal governance issues and external influences that were often exploitative. However, as he stated, Nigeria is not waiting for the world. Instead, it opens its doors to equitable and mutually beneficial partnerships.

The president’s commitment to changing the narrative can be seen firsthand. His remarks at the G20 in New Delhi, accompanied by pledges of nearly $14 billion from Indian investors, make one thing clear: Nigeria is open for business. Not just any business, but targeted investments that create jobs, foster innovation and drive sustainable economic growth.

Foreign governments are particularly interested in the creative sector. Recent visits by the UK Foreign Secretary, Rt. The Honorable James Cleverly, MP and the US Assistant Secretary to the Treasury, Wally Adeyemo, which included roundtable discussions with industry leaders and visits to Ogidi Studios, underline the recognition of Nigeria’s potential at the government level. When we welcomed these distinguished personalities to Ogidi, it was not just a matter of courtesy visits; they signified the understanding that the Nigerian narrative is being reshaped by its creative and entrepreneurial forces. They recognized the value proposition, immense talent and potential returns.

Nigerian artists are not just making waves; they create tsunamis on a global scale. Rema’s groundbreaking billion streams on Spotify, Asake’s triumph at the O2 Arena, Wizkid’s electrifying performance at Tottenham Stadium, Tiwa Savage’s royal presence and performance at King Charles’ coronation, Davido’s support at the Puma and Burna Boy’s Grammy win are just the tip of the story. iceberg. They symbolize a nation full of potential.

But the feats don’t stop at the music. Tobi Amusan continues to shine in international athletics competitions and recently won the Diamond League. Anthony Joshua, Israel Adesanya and Kamaru Usman are their opponents’ nightmares in the ring. Victor Osimhen’s exceptional performance in Naples further showcases Nigeria’s sporting talent. Every global brand was once just a local talent. Your favorite football club or basketball team was made global thanks to the hard work, passion and financial support of visionaries and investors. Nigeria is a goldmine of these local talents, who are waiting for the right platforms, investments and partnerships to transform themselves into global icons.

The key to progress lies in investment in both infrastructure and skills development: this is the key to success. As we grow our infrastructure, it is imperative that we simultaneously nurture our musicians, actors and athletes, as well as the coaches, officials and teams who support them.

These elements are interdependent; one cannot flourish without the other. A competent coach, leading a competent team and with a top-notch venue, attracts fans who spend on tickets, food and drinks, boosting the local economy. For those who cannot be physically present, television broadcast rights ensure inclusiveness. Additionally, these multi-purpose venues can serve as concert arenas, showcasing the dynamism of commerce.

One might ask why is now a good time to invest?

The answer lies in the changing nature of content and its potential as collateral. Already we are seeing content owners licensing content to major streamers and getting paid in installments. The inherent strength of these agreements could soon serve as substantial financial instruments, strengthening economic structures. The reliability and strength of these agreements have earned the trust of banks, signaling a transformative shift in how we perceive and value content. Imagine a world where the next global hit, the next cinematic masterpiece, becomes not only an emblem of cultural pride but a tangible asset, enriching both the creator and the investor.

While Disney’s original “Black Panther” film may not have invested directly in Nigeria or Africa, its sequel showcased Nigeria’s powerful creative prowess, with significant portions of its iconic music created in our Ogidi studios. Esteemed composer Ludwig Göransson, known for his award-winning work on films like “Fruitvale Station,” “Creed” and “Tenet,” was so impressed with our abilities that he incorporated many of the elements we recorded – vocals evocative with percussion and war flutes. . Given the successful collaborations and world-class infrastructure we offer, I foresee our next studio becoming the destination of choice for future international blockbusters. This transformation highlights Nigeria’s rise as a lucrative investment hub on the global creative scene.

In an era where “content is the new crude,” Nigeria’s reservoir is deep. The investment potential is not limited to entertainment alone. With the rise of technology, e-commerce, agriculture and more, the opportunities will only increase.

As the world stands at the dawn of a new era, the Nigerian dream is becoming an exciting reality. It invites investors, creators, innovators and dreamers to join a journey that promises unprecedented returns and an opportunity to shape the future.

Nigeria’s fabric of rich heritage, combined with its unprecedented potential, makes it a beacon for investment. Our artists and athletes have shown what is possible on the world stage. Now is the time for the world to invest in the limitless potential of our coasts. These opportunities will only increase and the world should be ready to seize them.

In the words of President Tinubu: “We are ready to give you the best possible returns on investment; there is nowhere else like our country. Indeed, the Nigerian renaissance is here and it is ripe for investment.

Idris Olorunnimbe is the Founder and Managing Director of The Temple Company Group, which owns Ogidi Studios.

About The Temple Company and Ogidi Studios:

Founded in 2016, The Temple Company bills itself as a global, full-service creative leader, headquartered in the bustling city of Lagos, Nigeria. Temple’s broad reach spans diverse industries including entertainment, media, film/video production, events, arts and sports.

Ogidi Studios, nestled in the pulsating heart of Lagos, is a world-class facility for recording, film production, animation and writing. This studio is a response to the infrastructure needs of the Nigerian talent industry, filling gaps and setting benchmarks.

This article was written by: Idris Olorunnimbe, Founder and Group Managing Director of The Temple Company, owner of Ogidi Studios

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